Microsoft (MSFT) Price Near $200.19; Heads Down For the 3rd Consecutive Day, Nears 100 Day Moving Average, in a Downtrend Over Past 14 Days

The Hourly View for MSFT

Last Updated September 18, 2020, 23:10 GMT

At the time of this writing, MSFT’s price is down $-0.68 (-0.33%) from the hour prior. This is the 3rd consecutive hour MSFT has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Microsoft Corp Daily Price Recap

Microsoft Corp is down 1.24% ($2.52) since the previous day, marking the 3rd consecutive day a decrease has occurred. As for how volume fared, yesterday’s volume was up 53.04% from the previous day (Wednesday), and up 14.36% from Thursday of the week before. The daily price chart of Microsoft Corp below illustrates.

MSFT

Microsoft Corp Technical Analysis

The first thing we should note is that Microsoft Corp is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Microsoft Corp’s price has gone down 7 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about MSFT:

    Sometime in Aug, someone asked me if my strategy would hold up in a down market. I mentioned that it should outperform the market as I validated my system under all market conditions as long as you continue to find good setups and do it CONSISTENTLY without deviation and hesitation. Since I started this portfolio in June, we've gone through 2 drawdowns: one 8.1% in June and the current 8.4% now. Portfolio is up 44.3% or 5x the S&P return of 9.0%.

    Bottomline is to follow the process and not worry too much about market conditions as it is already reflected in the edge (as long as it was randomly validated), if that makes sense. If the casino has a drawdown because of a cluster of multiple jackpot winners, it just grinds away with their edge. As a trader, my job is to outperform the market, not outsmart it by timing when. If it is your setup, trade on!

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    RedBear